Bethany Corp

Bethany Corp. reported $80,000 of net income for 2014. The following errors were then discovered:
Ending 2014 accrued expense was overstated by $2,000.
2014 earned revenue was overstated by $3,000.
Ending 2014 prepaid expense was overstated by $500.
Ignoring income taxes, the correct 2014 net income is

A) $85,500
B) $84,500
C) $78,500
D) $76,500

Correct Answer:

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